They're much less crazy than payday-lending services, and the rest of the world agrees.
If you are a low-income person, it is, depending upon where you live,
very difficult to find normal banking. Banks don’t want you. And what
people are forced to do is go to payday lenders who charge outrageously
high interest rates. You go to check-cashing places, which rip you off.
And, yes, I think that the postal service, in fact, can play an
important role in providing modest types of banking service to folks who
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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a blogger for Huffington Post, Daily Kos, and Global Economic Intersection.
His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:
Scott is a former President of Common Ground-NYC (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of articles for (more...)
Series: "Public Banking"
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